ids. Charity Reglstratlon No. 105562 (Northern Ireland) chartered accountants PORTSTEWART PRESBYTERIAN CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 IDS Chartered Accountants LLP 23125 Queen st￿et COLERAINE Co Londonderry BT52 1BG PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants CONTENTS Page Legal and administrative information Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes lo the fi'nancial slalements 9-16 PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr J Wright Mr B Hall Mr N Lyttle Miss . Ross Mr D Turbitt Mr P O'Neill Mr J Jack Miss R Hamilton Mr S Moore MrA Friar Ms H Hamilton Mr R Gawne Mrs C Martin Rev S Morrow Charity number 105562 Independent examiner IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Bankers Danske Bank 22 The Diamond COLERA NE Co Londonderry BT52 1 DE Solicitors Macaulay Wray 35 New Row COLERAINE Co Londonderry BT52 1 AH PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the financial statements and comply with the charity's Igoverning documentl, the Charities Act 2011 and "Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 2019). Objectives and activities The charitable purpose of the congregation is the advancement of religion. Portstewart congregation of the Presbyterian Church is a congregation of the Presbyterian Church in Ireland. The Presbyterian Church in Ireland, as a Reformed Church within the wider body of Christ is grounded in the Scriptures and exists to love and honour God through faith in His Son and by the power of His Spirit, and to enabl& her members to play their part in fulfilling God's mission to our world. The congregation's mission purpose is to proclaim Christ to all ages, for all ages, with our lips and with our lives. Our vision is, by the grace of God, to be an inolusive, welcoming community of Christ's people of all ages, which.. is increasingly characterised by love for God, and love and concern for others,. is committed to the historic Christian gospel as revealed in the Bible,. is relevant to people of this time and place. The congregation aims to live out its Mission and Vision as a family of Gods people by being." A Covenant Gommunty." where our relationships are rooted in the promises of God by living faithfully toward him and toward one another,. An InÈergenerational Community.. where adults intentionally take the lead to engage with, encourage and nurture younger members to maturity in Christ,. An Outward looking Community.. where we want the blessings of God that belong to us in the gospel lo become blessings for others beyond the bounds of our community,. As a congregation of the Presbyterian Church in Ireland, we believe that the Bible is the supreme authority over all we do, and that the Westminster Confession of Faith, along with the Larger and Shortei Catechisms set out what we iinderstand the Bib18 teaches on key matters of Christian faith and practice. The congregation meets for worship every Sunday and visitors are welcome to join. The Sacrament of the Lords Supper is observed on twelve occasions during the year and all those who have been baptised and who have made a profession of faith in the Lord Jesus Christ are admitted to the Lord's SLJpper. The congregation holds regular bible study meetings and has a wide range of organisations including.. Sunday School ￿reaSUre Hunters) Youth Club Mothers and Toddlers (Little Treasures) Bowling Club Presbyterian Women Girls, Brigade Bible Study and Prayer Time Youth Fellowship The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and performance Worship and prayer The congregation normally meets for worship each Sunday at 10.30am and a Sunday Evening Praise and Prayer Service is held ￿lce monthly. During the week the Bible Study provides an opportunity for members to meet together for fellowship, to study the scriptures and for a time of prayer. As well as our regular services during the year we acknowledged God's gift of new life with one Sacrament of Baptism and gave thanks for faithful services and sought to comfort those who had been bereaved during the year. At 31 December 2023 there were 126 communicant members and 237 families connected with the congregation. The average week attendance at moming worship Is 90. Pastoral care Members of the congregation who are unable to attend church due to sickness or age are visited on a regular basls by the minister, elders or by one of the congregation's pastoral vlsitors. Mission and outreach At a local level the congregation seeks to support and equip all members lo share their Christian faith, on a daily basis through their own lives and interaction with farnily. neighbours, work colleagues and during leisure activity. Some members have been involved in short-term mission teams throughout the country and overseas. Retiring collections and offerings were also laken up for appeals throughout the year. On a wider basis, our congregation supports the United Appeal ftjnd. United Appeal provides financial support at home and overseas, assisting congregations with the deployment of locally based staff, enables churth planting, provides grant support for the upkeep of Church premises. assists with the running costs of Union Theological College (the Church's training college for ministry students), and financially supports congregations in the area of worship, discipleship, global mission, outreach, leadership and pastoral care. The congregation also contributes to the denominalion's annual World Development Appeal and any other special appeals. Presbytery The congregation was represented at the regular meetings of Presbytery by our minister and one of the elders. This provides an important link between the congregations and the wider structures of the church. General Assembly The minister and one of our elders were nominated to attend the meeting of the General Assembly of the Presbyterian Church In Ireland held in Assembly Buildlngs, Belfast, in June 2022. Property Expenditure of £8,914 was incurred to maintain our fabric and buildings. PORTSTEWART PRESBYTERIAN CHURCH ids. ch(rtered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Organisations We briefly summarise the activity of our organisations below.. Sunday SChool￿reasUre Hunters- Weekly on a Sunday., Bible Class- weekly on a Sunday.. Youth Fellowship- weekly on a Sunday., Youth Club (Blaze and Chill) - weekly on SatLtrday during school term times., Mothers & toddlers- weekly on Wednesday and Thursdays. Bible study - weekly on Thursdays., Presbyterian Women- monthly on 2nd Tuesday,. Girls, Brigade- weekly on Wednesday., Bowling Club - weekly on Mondays and Thursdays Volunteers The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisations and other church activities. Financial review During the current f1nancial year the church generated a deficit of £20,073 (2022 Deficit.. £46,903). The deficit is primarily the result of the Salary cost of Youth Woikers. It has been agreed that these are funded by our reserves and kept under review. As at the year end the balance sheet also showed healthy net assets of £62,221 (2022.. £82,294}. The congregation also holds externally managed investments of £140,251 (2022.. £134,130). The trustees have assessed the major risks to which the charity is exposed, and are Satisfied that systems are in place to mitigate exposure to the major risks. structure> governance and management The church is an unincorporated charity. The trustees who served during the year and up to the date of signature of the financial statements were- Mr J Wright Mr B Hall Mr N Lyttle Miss J Ross Mr D Turbilt Mr P O'Neill Mr J Jack Miss R Hamilton Mr S Moo",e MrA Friar Ms H Hamilton Mr R Gawne Mrs C Martin Rev S Morrow J Watters S Armitage-McPeak H Davies (Appointed 24 March 2024) (Appointed 24 March 2024) (AppDinted 24 March 2024) PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 None of the trustees has any beneficial interest in the company. The Kirk Session The trustees of the congregation are the members of its Kirk Session. Under the congregation's governing document, The Code, the book of the constitution and government of the Presbyterian Church in I reland, the Kirk Session seeks to watch over and promole the spiritual interest of the congregation and of persons not connected with any congregation who are within its bounds. It ensures pastoral care is in place in the congregation and seeks to further the contribution of the Church to Christian witness and Servi￿ in the local community. Tre Kirk Sessions has delegated to its Congregational Committee the temporal affairs of the congregation including administering all funds and property belonging to the congregation. Members of the Kirk Session are ex-officio members of the Congregational Committee. The Kirk Session consists of the ordained minister and the ruling elders of the congregalions. All members are entitled to propose, speak and exercise equa5 votes at meetings, except that the Moderator, the ministers in active duty in the congregation, has no deliberative but only a casting vote. stated meetings ofthe Kirk session are held on the third Tuesday of each month exclLtding July and August. To be chosen for the office of the eldership in the congregation a person must be a voting member and a regular attendant on its ordinances. The selection of those proposed to be called lo the office can be either by the congregation or by the Kirk Session. Members are elected if they obtain Iwo-thirds of those who vote. Presbytery Under the Presbyterian Church in Ireland form of governan￿ the corporate oversight of a congregation is the responsibility of a Presbytery which superintends generally the spiritual and temporal affairs of the congregations assigned to it by the General Assembly of the Presbyterian Church in Ireland. Portstewart congregation of the Presbyterian Church has been assigned to the Coleraine and Limavady Presbytery of the Presbyterian Church in Ireland. The membership of the Presbytery consists mainly of the active ministers of congregations assigned to it by the General Assembly, minsters who have retired from active duty and an elder appointed by the Kirk Session of the congregation. The General Assembly The General Assembly Is the supreme court of the Church, representing in one body the whole Church and acting as its supreme legislative, administration and judicial authority, in dealing with all matters brought before it. The General Assembly is normally constituted during the first week in June for worship and to conduct its business. At the end of business, it is dissolved. The membership of the General Assembly consists mainly of the active ministers of each congregation, retired minsters and a representative elder appointed by the Kirk Session of each congregation. PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Public benefit statement The Presbyterian Church in Ireland meets the public benefit requirement by providing benefit to its members and the general public by making known the Christian Gospel of the Lord Jesus Christ through the advanC￿ent of religion. The direct benefits which flow from the purposes of the Church include the gaining of an understanding in Christian beliefs as set out in the Bible and in the Church's subordinate standards Ilhe Westminster Confession of Faith and the Shorter and Larger Calechismsl leading to spiritual and moral development and opportunities for response to Bible teaching. In turn, this framework leads to practical expressions of Christian beliefs and standards in the local community such as through the care of those in need (including the sick, disabled and bereaved). Generally the above benefits are delivered locally by congregations and their members, or are facilitaled through presbyteries or are organised and delivered centrally. Local delivery is facilitated by central resources in almost all cases. Public access is made known through the use of noticeboards, printed material, press advertisement, websites, and social media or in other ways. The benefits are demonstrated through regular evaluation of the services and informal and ad-hoc feedback from members, their families, and members of the public. The purpose does not lead to harm. The only private benefi't flowing from our purpose is relaled to Ministers, Missionaries, Deaconesses, Irish Mission workers and Lay Agenls who receive benefits as a result of their holding office or employment, However, this is incidental and necessary in order to further our charitable purpose. There are no other private benefits. The beneficiaries of this purpose are members, their families, other individuals that the Presbyterian Church in Ireland is in direct and indirect contact with, the community in which pastoral services are provided and other communities throughout Northern Ireland, the Republic of Ireland, and worldwide which benefit from our engagement with and support for both Christian and other secular organisations, charities and individual members of the public. The Kirk Session has had regard to the Charity Comrrtissions Public benefit requirement statutory guidance. The trustees, Feport was approved by the Board of Trustees. MrRG Trus wne 28 October 2024 PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTSTEWART PRESBYTERIAN CHURCH I report to the trustees on my examination of the financial statements of Portslewart Presbyterian Church (the charity) for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance wilh the requirements of the Charities Act 2008 (Ihe 2008 Acti. It is my responsibility to.. examine the accounts under section 65 of the CharitiesAct', follow the procedures laid down in the general DireGtions given by the Charity Commission for Northern Ireland under section 6519)(bl of the Charities Act., and state whether particular matters have come to my attention. Basis of independent examlner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records, It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role 15 to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance with section 63 of the Charilies Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examlner's statement I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial ststements to be reached. L, Alison Wallace IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG Dated. 28 October 2024 PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies Charitable activities Investments 152,863 13,643 10.768 1,854 166,506 10,768 3,689 129,420 9,266 4,777 1,740 138,686 4,777 3,481 1,835 1,741 Total incomo 154,698 26,265 180,963 131,161 15,783 146,944 Expenditure on: Charitable activities 180,504 18,282 198,786 173,267 18,832 192,099 Total expenditure 180,504 18,282 198,786 173,267 18,832 192,099 Net incomel{expenditure) (25,806) 7,983 117,8231 142,106} (3,049) (45,155} Transfers between funds 12,250} {2,250) (1 ,748} (1,7481 Net movement in funds (25,806} 5,733 (20,073> (42,106) (4,7971 {46,903) Reconciliation of funds: Fund balances at 1 January 2023 60,039 22,255 82,294 102,145 27,052 129,197 Fund balances at 31 December 2023 34,233 27,988 62,221 60,039 22,255 82.294 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants STATEMENT OF ASSETS AS AT 31 DECEMBER 2023 2023 2022 Notes Current assets Cash at bank and in hand 62,221 82,294 Net current assets 62,221 82,294 Net assets excluding pension liability 62,221 82,294 The funds of the charity Restricted income funds Unrestricted funds 13 27,988 34,233 22.255 60,039 62,221 82.294 Independently managed investment portfolio 140,251 134.130 The financial statements were approved by the trustees on 28 Oc ber 2024 Tr. f_ur Mr D Turbitt Trustee MrR Trus awne ee PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity information Portstewart Congregation of the Presbyterian Church in Ireland is an unincorporated charily. The registered office is 3 Henry O'Neill Heights, Portslewart, BT55 7UD. 1.1 Accounting convention The financial slalemenls have been prepared in accordan￿ with the Charities Act 2008. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for chanties applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extenl required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which Is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statemenls, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. 1.4 Income Income is recognised when the charily is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donatlDn, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Expenses are recognised when they are paid. PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original malurities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Bas1¢ financial liabilities Basic financial liabilities, including ¢reditor5 and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transadion, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presenled as non-current liabililies. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.7 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.8 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ frorn these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimales are recognised in the period in which Ihe estimate is revised where the revisian affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 10- PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2023 2023 2023 2022 2022 2022 Donations and gifts 152,863 13,643 166,506 129,420 9,266 138,686 Donations and gifts Freewill offering Church collections Special collections United Appeal Presbyterian Orphans and Children Society World Development Contributions towards heat and light Building fund donations Memorial Fund other 109,565 7.358 4,359 12,718 109,565 7,358 4,359 12,718 98,217 3,432 5,184 8,277 98,217 3,432 5,184 8,277 200 3,205 200 3,205 35 4,349 35 4,349 2,401 2,401 -.2,070 1,105 1,105 9,066 200 8,821 12,070 9,066 200 13,057 1,573 14,630 8,821 152,863 13,643 166,506 129,420 9,266 138,686 Income from charitable activities Restricted funds 2023 Restricted funds 2022 Girls Brigade other income 5,743 2,430 Prebyterian Women other income 5,025 2,347 10,768 4,777 11 PORTSTEWART PRESBYTERIAN CHURCH ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Investments Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2023 2023 2023 2022 2022 2022 M & G Charifund Interest receivable 1,835 1,835 19 3,670 1,741 1,739 3,480 1,835 1,854 3,689 1,741 1,740 3,481 12- (t) CO r CO r CO C41 in c ¢ +CJ co GJ (ry ￿ ry) r ￿ CO tn co ro a) a) Q Ln Ln ON*Ln untant Lts Cn O) (T) Ln (D a) ￿ c4 (fj o) (L> CKJ CO N IKJ ¢0 (o (N rt (N ￿ ro r£J CN CN LO fo N (O CO ￿ fo N co ¢n tr) u) SCLSuJo(J￿cLci